AGM Statement
Screen PLC
17 June 2002
SCREEN PLC: AGM STATEMENT
Screen Plc ('Screen' or the 'Group'), the security and communications systems
provider, will hold its Annual General Meeting today at 10 Noble Street, London,
EC2V 7QJ, at 10:00am.
Highlights are:
• Company is well positioned for a period of strong and sustained
growth.
• Expects to meet market expectations at the half year and the Directors
continue to view the Group's prospects with great confidence.
• Enters North American market through a partnership with the US's
largest maker of police radar systems. Expect that deliveries will begin this
month.
• Strong demand for Joyce-Loebl's Defence & Transport products with
orders for CCTV and Information Displays from Portuguese Rail, Bombardier and
Alstom alone exceeding £2.3 million.
• Firm order book of £6.6 million at Joyce-Loebl covers the balance of
this year and into next.
• Petards Emergency Services set to continue as leading International
supplier of police In-Car Video with notable business coming from Italy,
Bulgaria and Holland.
• Petards Vision successfully re-launched expanded range of software
products following Pentyre acquisition. Sales of SWIFT wireless CCTV systems in
first half are close to the full year 2001 sales.
Prior to the meeting's formal business, Owen Williams, Chairman of Screen, will
make the following statement to Shareholders:
'In my report to shareholders in May I summarised our position as one in which
we have a strong balance sheet, focussed businesses together with relevant
products and services, in other words the ingredients for a period of strong and
sustained growth. At the time I looked forward to being able to report in due
course that in 2002 our success continued apace. Today I am able to do just
that.
We anticipate that the Group overall will meet market expectations at the half
year with a particularly strong performance from our latest acquisition,
Joyce-Loebl.
Joyce-Loebl - Transport & Defence
With its established channels, Joyce-Loebl has taken us into Defence and
strengthened our Transport sector presence, two high growth markets for our
products and services. The Defence side of the business is experiencing strong
demand, especially for its electronic warfare products, as the UK and Europe
continue to react to international events and on-going security concerns. The
effect of increasing investment in public transport across much of Europe
continues to benefit our Transport operation, with orders for on-board CCTV and
Passenger Information Displays from Portuguese Rail, Bombardier and Alstom alone
exceeding £2.3 million. With a strong first half and a firm order book of £6.6
million, covering the balance of this year and into next, we are confident of
Joyce-Loebl's contribution to our continued strong growth.
Petards Emergency Services
We are now also reaping the benefits of concentrating on other selected markets
where we are or are becoming a major player. There is no better example of this
than the Emergency Services or Blue Light market, where we continue to be a
leading supplier in the international In-Car Video Evidence & Enforcement
market. Serviced by our strengthened Petards Emergency Services business unit,
formed through the amalgamation of the previously separate Civil Systems and
Mobile Intelligence, they continue to enjoy successes with business coming from
Italy, Bulgaria and Holland amongst others.
In Italy, we expect that an additional €700,000 of ProVida Video Evidence &
Enforcement systems will be delivered following successful use at the G8 Summit
in Genoa. In Bulgaria, the initial pilot order was sufficiently significant to
the government to warrant TV coverage across major national channels. Both of
these are good examples of the effectiveness of our distribution channels and
our ability to consolidate our position in new territories.
The most notable of our wins in the Emergency Services market is the acceptance
by the Dutch police of our ProGenie dockable hand-held PC as one of only two
mobile devices selected for their P-Info program, designed to 'take the office
to the officer'. While a pocketsize PDA was chosen for Officers on foot or
bicycle, Screen's ProGenie has been selected for use in Dutch Police vehicles,
with the first 30 docking cradles now being installed in preparation for a
countrywide rollout. Holland has some 4,000 Police vehicles that could be
fitted with ProGenies, while other European forces, keen to make better use of
their manpower, are closely watching the overall project.
Petards Vision - Security & Surveillance
With the continuing growth in demand for security & surveillance solutions, our
Petards Vision business unit re-launched its expanded range of software products
at the recent IFSEC exhibition, the major event in the International Security
Industries calendar. Under the Advantage brand, the integrated range brings
together our original products with those brought to us through the acquisition
of Pentyre. These powerful solutions continue to attract customers in local &
central government, the MoD, Mass Transport and commercial sectors in the UK and
increasingly - internationally.
SWIFT, our rapid deployment wireless CCTV system continues to perform strongly
with more than 250 units supplied to-date. A continuous program of
improvements, adding new variants and options is extending the range of
applications for the product and keeping it well ahead of any competition.
Recent sales include two Local Authorities and a Police Authority, each spending
approximately £100,000 on SWIFT solutions. Swift sales year to date are close
to the levels achieved during the whole of last year, with some of these sales
coming via our international distribution network.
As the volume of installed cameras increases daily so does the market for
systems that will automatically review CCTV output. Our accelerated investment
in Automatic Recognition systems will produce considerable benefits over the
years to come.
PMI International - Distribution & Sales
Over the last two years Screen has sought to grow its revenues from
International markets, developing a network of partners and distributors. The
successes we have enjoyed internationally have always depended on finding the
right local partner and having a product that meets local needs and the relevant
regulatory approvals.
Today we are pleased to announce that Applied Concepts, Inc. (ACI), better known
as Stalker Radar, North America's largest manufacturer of speed radar systems
will distribute in the US a specially developed version of Screen's ProVida
video evidence and enforcement system.
ACI / Stalker Radar are already the leading supplier of police speed enforcement
radar in a market where demand for video based systems from law enforcement
agencies is currently estimated at approximately 20,000 units a year. With the
first shipments of a system especially designed to meet North American customer
specifications and local standards, expected to be delivered this month, we view
this an exciting opportunity and a first step into the world's largest market
for all of the products and services offered by the Group.
Prospects
The drivers for our growth in these and other markets remain our product
development and geographic reach. We expect to see continued growth in the
current year as we reap the benefits of our earlier investment in products,
people and the infrastructure needed to sell and support complex solutions, into
demanding environments across the world.
The Directors continue to view the Group's prospects with great confidence.'
Contacts:
Screen Plc Binns & Co PR Ltd
Owen Williams - Chairman Peter Binns, Paul McManus
Tel: 01628 820011 Tel: 020 7786 9600
info@screenplc.com paul.mcmanus@binnspr.co.uk
www.screenplc.com www.binnspr.co.uk
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